The S&P 500 Within Spitting Distance of Its 2000 High

May.21.07 | About: SPDR S&P (SPY)

Eddy Elfenbein submits: The S&P 500 is now within spitting distance of its 2000 high.

The index’s closing high was 1,527.46 on March 24, 2000, just 0.11 points higher than the day before. Around 2:20 on Friday, the index got to 1,522.68. We’re getting very close.

Don’t let anyone tell you that this rally isn’t for real. And especially, ignore all the phony comparisons (to gold, to euros, to inflation, to Swedish kronor). Who cares? I don’t use euros anyway. Why not compare it to bandwidth? I use lots of that. Anyone can use clever comparisons to show what they want.